HomeMy WebLinkAboutRES 98-124 - � /'7
RESOLUTION APPROVING THE FINANCING BY THE
BELL COUNTY HEALTH FACILITIES DEVELOPMENT CORPORATION
OF A HEALTH FACILITY LOCATED WITHIN
THE CITY OF BEAUMONT, TEXAS
WHEREAS, the Health Facilities Development Act, Chapter 221, Texas Health and Safety
Code(the"Act"),authorizes and empowers Bell County Health Facilities Development Corporation
(the"Issuer")to issue revenue bonds on behalf of Bell County,Texas(the"Issuing Unit"),to finance
and refinance the costs of health facilities found by the Board of Directors of the Issuer to be
required, necessary or convenient for health care, research and education, any one or more, within
the State of Texas and in furtherance of the public purposes of the Act; and
WHEREAS, Section 221.030 of the Act provides that the Issuer may provide for the
financing or refinancing of one or more health facilities located outside the limits of the Issuing Unit
with the consent of each city, county or hospital district within which such health facility is or is to
be located; and
WHEREAS,Buckner Retirement Services,Inc.,a nonprofit Texas corporation, proposes to
obtain financing and refinancing from the Issuer from a portion of the proceeds of the Issuer's bonds
issued pursuant to the Act for the costs of the health facility described in Exhibit A hereto (the
"Project"); and
WHEREAS,the Project will be located within the City of Beaumont, Texas(the"City")an d
outside the limits of the Issuing Unit;
NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF BEAUMONT,
TEXAS THAT:
Section 1. The City hereby consents to the financing by the Issuer of the Project as required
by Section 221.030 of the Act and approves the financing as required by Section 147(f) of the
Internal Revenue Code of 1986; provided that the City shall have no liability in connection with the
financing of the Project and shall not be required to take any further action with respect thereto.
Section 2. This Resolution shall take effect immediately from and after its adoption and it is
accordingly so ordered.
PASSED AND APPROVED, this the day of U , 1998.
Mayor
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EXHIBIT A
DESCRIPTION OF THE PROJECT
The proceeds of the Bonds will be used to pay or reimburse Buckner Retirement Services,
Inc. for payment of capital expenditures and other costs relating to the Project. The Project consists
of a retirement community to be known as Calder Woods consisting of approximately 94 independent
living units for the elderly, 30 assisted living units, 30 nursing beds, 16 specialized care beds for
persons with dementia related disorders and common areas to be located on a 17 acre tract of land
in the 7000 block of Calder Road in Beaumont, Texas. The cost of the Project is not expected to
exceed $20,000,000.